BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $47.82.

Several research analysts have weighed in on the stock. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price target on the stock. Citigroup lifted their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Cantor Fitzgerald boosted their price objective on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Mizuho lowered their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $27.83 on Wednesday. The business has a 50-day simple moving average of $28.59 and a two-hundred day simple moving average of $31.82. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -8.64 and a beta of 1.08. BridgeBio Pharma has a fifty-two week low of $12.75 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to the consensus estimate of $4.78 million. During the same quarter last year, the company posted ($0.92) earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts predict that BridgeBio Pharma will post -3.09 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 28.52% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. purchased a new position in BridgeBio Pharma in the first quarter valued at about $34,000. Quarry LP purchased a new position in BridgeBio Pharma in the fourth quarter valued at about $50,000. Assetmark Inc. acquired a new stake in BridgeBio Pharma in the third quarter worth about $53,000. China Universal Asset Management Co. Ltd. boosted its holdings in BridgeBio Pharma by 98.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock worth $110,000 after acquiring an additional 2,067 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in BridgeBio Pharma in the third quarter worth about $132,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.